Odisha Beats Economic Slowdown With Revenue Generation Growth Of 112%

Bhubaneswar: Beating the slowdown in the global economy due to COVID-19, Odisha registered a rise in revenue generation by end of June this fiscal.

During a meeting of all secretaries, presided by chief secretary Suresh Chandra Mahapatra, here on Tuesday, it was revealed that the revenue went up because of the application of 5-T principles and prudent policies in financial management.

Speaking at the meeting, principal secretary, Finance Ashok Kumar Meena said the revenue generation from state’s own sources by end of June, 2021 grew to Rs 17,656.70 crore against the last year collection of Rs 8,307.54 crore during the same period marking a growth of 112.54%.

The revenue generation from own tax sources grew by 74.66%. The total revenue collection from own tax sources upto June, 2020 was around Rs 4601 crore which grew to Rs 8036 crore by June, 2021.

Similarly, the non-tax revenue upto June, 2020 was around Rs 8307.54 crore which grew to Rs 9621.16 crore by June, 2021, recording a growth of 159.55% over the previous year. This non-tax revenue growth was assigned to robust system of revenue collection developed in Steel and Mines department.

There was also significant growth in budget utilisation in June. Total expenditure till June-end, 2021 was Rs 25,194 crore which was 24.29% more than the last year. The total expenditure upto June, 2020 was Rs 20,269 crore.

The total programme expenditure till June, 2021 was Rs 13,107 crore which was 55.62% more than the expenditure during the same period of the last fiscal.

Reviewing the fiscal performances, the chief secretary directed the departments to speed up capital expenditure under different programmes for keeping up the higher growth rate. He also told principal secretaries and secretaries of different departments to closely monitor the progress of the projects under District Mineral Fund (DMF) and Odisha Mineral Bearing Areas Development Corporation (OMBADC).

The review of the projects under DMF and OMBADC revealed that progressive collection till May, 2021 under DMF was around Rs 13,173 crore against which around 20372 numbers of projects estimated at Rs 14,490 crore were sanctioned in different districts. Out of the sanctioned projects, 13,132 were completed by end of May, 2021 and the rest projects were in different stages of implementation.

Similarly, under OMBADC Phase-II, 38 projects in seven sectors estimated at around Rs 13,782 crore were sanctioned till end of May, 2021. The progress of the projects was found to be in the timeline.

Development Commissioner Pradeep Kumar Jena, Additional Chief Secretary (ACS) and Agriculture Production Commissioner Raj Kumar Sharma, ACS Sanjeev Chopra, ACS Forest and Environment Dr Mona Sharma, ACS Health and Family Welfare Pradeepta Kumar Mohapatra along with principal secretaries, secretaries and special secretaries of all departments participated in the deliberations.